The communication complexity of private value single-item auctions

摘要

This paper is concerned with information revelation in single-item auctions. We compute how much data needs to be transmitted in three strategically equivalent auctions-the Vickrey auction, the English auction and the recently proposed bisection auction-and show that in the truth-telling equilibrium the bisection auction is the best performer. (c) 2005 Elsevier B.V. All rights reserved.